Located in South Australia within the Mitcham local government area, Westbourne Park is a smaller suburb (postcode 5041). The area has roughly 2,564 residents and an established demographic, with a median age of 44. Households earn a median income of $113K per year, with an average household size of 2.6 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +1.0% year-on-year at the LGA level. SA employment has moved +2.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. SA also had 23 Commonwealth-backed major projects under construction, 2 underway, and 11 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, managers, clerical & administrative. Employment in the area leans toward healthcare and professional services. The top ancestries reported are English, Australian, Scottish.
Median house prices in Westbourne Park stand at $2.5 million, having eased back by 3% over the last twelve months. The current median weekly rent is $620. This gives a gross rental yield of approximately 1.3%. The median monthly mortgage repayment is $2,167.
Westbourne Park is served by 1 school, including 1 primary. The average ICSEA score is 1126, which is well above the national average of 1,000. Public transport access includes 11 bus stops. The crime rate in the Mitcham LGA is low at 1,833 incidents per 100,000 population.
From an investment perspective, The gross rental yield works out to roughly 1.3%, which reads as low yield. Property prices are above the state median ($2.5M/$950K), placing it in the premium segment. The price-to-income ratio of 22.1x is considered stretched. House prices have moved -3.0% year-on-year. Population growth of +1.0% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.